The EUR/USD pair went back and forth wildly during the session on Wednesday, as we continue to move based upon rumors coming out of Athens. With that being said, it’s quite frankly easier to simply avoid this pair than it is to trade it at the moment. We do believe that it’s more apt to be bearish as long as we are below the 1.10 level, and as a result we are essentially “sell only” at this moment. If we break above the 1.10 level, we would be buyers then. As things stand right now, we could very well end up back towards the 1.06 level.
